Solar Panel Cost Guide in Long Grove, IL (2024 Update)
- Long Grove Solar Installation Cost: $16,643
- 25-Year Savings: $10,528
- Payback Period: 18.4 Years
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Average Cost of Solar Panels in Long Grove
Let’s have a look at the average cost of solar panels in Long Grove.
While the national average of solar panels is $2.66 per watt, solar panels in Long Grove generally cost about 4.The average Long Grove homeowner needs a 6.3-kilowatt system, which would cost about $16,643 with the federal tax credit, or $23,799 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The exact cost of making the switch to solar can vary depending on multiple factors, such as what size system you need, your energy consumption and what solar installer you go with.Many homeowners find installing a solar system is a rewarding investment. The average homeowner in Long Grove can save about $14,000 on their power bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Long Grove that can help you get a more accurate cost estimate for your home.
Solar savings over time in Long Grove
| Year | Return on Investment |
|---|---|
| 1 years | $-15,487 |
| 3 years | $-13,174 |
| 5 years | $-10,862 |
| 7 years | $-8,550 |
| 9 years | $-6,237 |
| 11 years | $-3,925 |
| 13 years | $-1,612 |
| 15 years | $700 |
| 17 years | $3,012 |
| 19 years | $5,325 |
| 21 years | $7,637 |
| 23 years | $9,949 |
| 25 years | $12,262 |
Top Solar Installers in Long Grove
Installing solar panels by yourself can be a time-consuming undertaking, which is why using a solar installation company is a good option for many homeowners. The payback period of solar panels will vary based on factors like your location and energy consumption, but going with a solar installer can shorten it. Your provider will be able to help you get the most out of incentives available in your area.
There are a number of licensed solar professionals that can help you install your solar panels. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Long Grove
Factors that Affect Solar Panel Costs in Long Grove
There are many criteria that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay around $3,760 per kilowatt in Long Grove.The kind of solar panels and equipment you choose is another factor that will largely influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Furthermore, solar equipment consists of more than just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that’s in your budget.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are a solid choice because they cut back your upfront costs and let you pay for your system over five to seven years on average.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Long Grove is the company you hire to install your PV system. Similar to choosing a company to install new cabinets, for example, there’s no shortage of solar installers that provide a range of services for different budgets.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and choose a company that has the products, warranties and services you’re looking for and also fits within your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.91 | $16,424 | $5,032 | 19.1 years |
| 8 kW | $3.84 | $21,477 | $7,130 | 18.8 years |
| 10 kW | $3.76 | $26,320 | $9,439 | 18.4 years |
| 12 kW | $3.68 | $30,952 | $11,959 | 18.0 years |
| 14 kW | $3.61 | $35,374 | $14,689 | 17.7 years |
| 16 kW | $3.53 | $39,585 | $17,630 | 17.3 years |
| 18 kW | $3.46 | $43,586 | $20,781 | 16.9 years |
| 20 kW | $3.38 | $47,376 | $24,143 | 16.6 years |
How to Save on Solar Panels
The solar panel company you go with will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, such as:
- Contract: When reading through your solar installer’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. While there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of options before deciding.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can verify your installer’s reputation is by reading reviews.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Long Grove, IL Solar Cost FAQs
What is the average cost of installing solar panels in Long Grove?
The average cost of solar panels in Long Grove is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the real cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Long Grove?
Leasing solar panels can be an appealing choice, because it commonly comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Is it worth going solar in Long Grove?
Solar panels can be a fruitful investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already fairly low, solar panels might not be for you.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.